This is one of the few articles on HN that I read the whole way through. Good job whoever wrote it.
The interesting thing here is that the case is made that China can (and does) manipulate its currency and that devaluing one's currency is what has led to the shift of manufacturing jobs from the developed world to China (and other places) but it also notes that this suppression of currency value is becoming increasingly difficult.
Doesn't this support the argument that currency manipulation is ultimately time limited?
On a side note, I always like to point people to this [1] on the subject of free trade, specifically the conflation between free trade and free movement of capital.
The interesting thing here is that the case is made that China can (and does) manipulate its currency and that devaluing one's currency is what has led to the shift of manufacturing jobs from the developed world to China (and other places) but it also notes that this suppression of currency value is becoming increasingly difficult.
Doesn't this support the argument that currency manipulation is ultimately time limited?
On a side note, I always like to point people to this [1] on the subject of free trade, specifically the conflation between free trade and free movement of capital.
[1] http://economixcomix.com/home/tpp/